tv Legal View With Ashleigh Banfield CNN June 28, 2016 9:00am-10:01am PDT
hello, everyone. i'm ashleigh banfield. welcome to "legal view." in just a few minutes, we are expecting to hear from hillary clinton, who has a campaign stop at a workforce training center in denver, where she is going to talk about technology and inknnovation. we will also go to a donald trump trump event hot on the heels of the brexit vote. he is expected once again to push his idea that globalization is bad for america and that hillary clinton is a big proponent of globalization. i want to remind you what he said just last week before the vote. >> we got here because we switched from a policy of americanism, focusing on what's good for america's middle class, to a policy of globalism,
focusing on how to make money for large corporations who can move their wealth and their workers to foreign countries, all to the detriment of the american worker and the american economy itself. >> let's go now to m.j. lee, who is covering the clinton campaign today. live in denver. she is at a place called galvanize. it sounds like she is looking for the millennial vote. am i wrong? >> reporter: that's absolutely right. she has been rolling out specific policy prescriptions whether it is on foreign policy or the economy. she is going to speak at a small business incubator in denver. we are going to hear her talk about bringing high speed internet to most households by 2020, insuring that students have access to computer science,
student loans, to give young entrepreneurs a leg up. all of this seems a little wanky. keep in mind the big strategy is to draw a contrast between herself and donald trump, which we have seen her do over and over again over the last few weeks. her goal is to paint herself as a candidate with a comprehensive policy agenda making sure voters know she believed that donald trump is unfit to be president in almost every front. we can expect this rhetoric from clinton will continue over the next couple of months. >> m.j., standing by live for us. thank you for that. i also want to bring in our political panel, nia henderson and christina alesshi is live with me here. hold on nia malik, if you rill. christina, the whole brexit issue and the globalization focus for donald trump.
i get it, except things are catastrophic there now. people are freaking out all around the world. the markets are doing better here but not for those folks. why stay on that message? >> it is an emotional message has been working for his supporters. what he is not talking about are the down sides for the u.s. with brexit. this does make our dollar stronger which means our goods are less competitive on the world stage. donald trump is not talking about that. he is talking about the fact that people can vacation more cheaply in europe. yes, it is a benefit. if you look at some of the down sides to the u.s., they are quite substantial. they are quite large. >> i want to skip over, if i can, slightly to trade. that is something that donald trump likes to really hammer home in a lot of his speeches.
in this speech he has coming up, that's going to be a big focus for him in the rust belt, particularly. there is this sound bite that has been unearthed. it was hillary clinton talking about the tpp trade pact being the gold standard. now, we actually have what it sounds like when they said it. let's play that. >> this tpp sets the gold standard in trade agreements to open free, transparent, fair trade, the kind of environment that has the rule of law with a level playing field and when negotiated, this agreement will cover 40% of the world's total trade and build in strong protections for workers and the environment. >> nia malik, you want to jump in here. christina just talked about the globalization and there is the whole tpp thingy that i am sure hillary clinton wouldn't be on tape.
she walked that back. you are going to have to get me through that. me thinks that is going to be in a campaign ad if the trump people are quick and witty real fast. >> that's right. >> this was a big part of the democratic primary, bernie sanders never letting hillary clinton forget she had come out for that, tpp, something obama wants to happen. the democrats haven't been on the same side as the president. here is the smoking gun. what we knew she had said in transcript version. you do imagine donald trump is going to use that. he'll be in pennsylvania today talking about these issues, tpp, nasa. this is quite a departure from what we have seen other republicans be able to do in these rust belt states. you typically see them go there and talk about government or regulations, squelching
businesses. this is something new from a republican. this idea that they are against free trade. we wrill see what that does for donald trump's message if he is able to do better amongst working class, white voters. a voting bloc that is already key to republicans to begin with in these rust belt states. donald trump is trying to do better. that would be key to any kind of chances that he has of winning the white house in november. >> sense you mentioned a departure, i'm going to talk about another departure if i can. that is, donald trump has really got a big departure from the muslim ban, which was the cornerstone of his prime campaign. other than build a wall, he is saying, we need to target the terror countries and look at the muslims that come from the terror countries. my crafty and trust worthy team went back over the last five major attacks on western
countries and looked at where these very dangerous people come from. there is a list. feast your eyes on it, folks. this is the reality of the last set of western attacks from brussels to san bernardino to orlando and charlie ab doe as well, six french citizens, one french national, three belgian citizens, one belgian born, one belgian national, one u.s. born, one u.s. citizen, one swede, one important in pakistan and one in morocco. those are terror countries. what do we do about those silly americans coming from a terror country? how do you establish what a terror country is anymore? >> here you are thinking there was some logic to this plan. when donald trump first made that statement, it was not in
the heat of debate or in answer to a reporter's question. he held a press conference. he read from a piece of paper. it was a prepared statement. the burden is on him to explain what the heck he meant. >> what's a terror country? >> it is a made-up term. the campaign should explain what they mean and what happens to an american-born muslim. he said we are going to have a shutdown for muslims. let's say you are a green cardholder who happens to be of the muslim faith. you go away on vacation and come mo home to an unapproved country. it cries out for a vast deal more explanation in detailment. >> that's all of his policies to a certain extent, it cries out for more detail. even on his position about trade and imposing tariffs on mexico and china. outside groups have looked at
those plans and said, it is going to cost the average american worker more. as foreign goods become more expensive, u.s. producers will see that as an opportunity to increase prices too. >> dumb this down to me. i'm a mom of two kids, i live in the suburbs, i likes my walmart. i like to go to walmart and target. i go up and down in sizes. i have things in several sizes. seriously, though, isn't that what it means when you start clamping down on these trade deals? my walmart prices are going to go up and i won't be able to afford a wagon for each of my kids. >> you are absolutely right. the average american family will pay $22 more a year. that's from a university. if you look at a conservative group, it will cost the average person $780 a year more. even u.s. domestic producers will look at those foreign
products and say, they are charging more for them. why not? that's the way business works. the benefits to the producer are there. it is not the same for the american family. it is not the same. >> let me do a complete about-face here. let me look at a tweet for michael coe hen w michael coe hen. he said the nbc wall street journal poll has donald trump beating crooked hillary on honesty and national security. this picture says it all. if you read what the meme says, i presided over $6 billion lost as the state department sold uraniums to the russians through my faux charity, illegally deleted public records and murdered an ambassador. this show is called "legal view" because we know a thing or two about the law. michael cohen is libel.
to suggest that a woman murdered an ambassador, that's pretty striking stuff. >> it is strident. i think it again goes to what has been donald trump's problem. this very undisciplined, shoot from the hip campaign and micha michael cohen isn't affiliated with the campaign but he has been a long time aide. i remember covering donald trump in 2012 when he was sort of pretenpr pretending he was going to run for president. michael cohen was there and donald trump was often on the phone with him. again, this is the kind of strident language that has been sort of surrounding the donald trump campaign, often coming from donald trump himself. >> can i show you a tweet that michael cohen, the author of this one from moments ago put out two years ago. have a look at what michael
cohen thought of secretary clinton? being received by two great marp americans, hillary clinton and patrick kennedy, being the other great american as the kennedy compound. i'm not sure what happened. benghazi had happened two years prior to that tweet. apparently, michael cohen thought she was a great american two years after benghazi and now he does not. also, nia malik, just quickly, is it michael caputo who re-signed after the ding-dong the witch is dead once corey luwendowski, that kind of tweet. it is not hillary clinton murdered an ambassador. >> cohen isn't affiliated with this campaign. caputo decided to step down because he thought he would be a distraction to the campaign after he tweeted out that reference to the "wizard of oz" in relation to corey
lewindowski. we have heard things emanating from the donald trump orbit. we will see if there is any pushback. >> let's be clear. this is a distraction. that same nbc wall street journal poll that he is referring to that has trump ahead ahead on honesty and trustworthyness has hillary clinton ahead on the election. >> i am sure he will want to tweet something like that. let's be really frank here, people. don't call someone a murder of an ambassador. for god's sake, it is offensive to americans that want the truth to what's going onn politics. please, give us a break. campaigning. erika lewis, mya henderson, lewis, thank you. the report on the benghazi
attacks. it happened on hillary clinton's watch t was just released today. what does it say about the then secretary? we are going to fill new on the details. you can watch legal view any time at cnn.com/go. you can find me on twitter at cnn.ashley or head over to facebook. you pay your car insurance premium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more.
freshly made in the tokyo-japanese tradition, each batch is small. special. unique... every bowl blurring the line between food...and art. when you cook with incredible ingredients... you make incredible meals. fresh ingredients. step-by-step-recipes. delivered to your door. get your first two meals free blueapron.com/cook.
at long last, the house ekt select committee on benghazi has released its reports on the 2012 attack that killed four americans at a u.s. diplomatic outpost. i did say reports, more than one. with the secretary of state at the time launching a presidential bid, there was never much chance that this probe would stay above the political fray. witness last october's day-long grilling of hillary clinton by committee republicans and defense by committee democrats. the dems put out their report yesterday followed early this morning by the, quote, official version from the republican committee leaders and a separate account from two republican panel members.
before we get to the claims and the conclusions, all sides agree that glen doherty. ty woods, sean smith and u.s. ambassador chris stevens, died heroically in service to their country. glad we can say that. sometimes that gets loss in the all of the politics. the official report sites that an ray of political factors, including a worsening security system in liberty, inadequate resources from the state department of defense and bur r bureaucratic inertia in waugs. it does not allege any new allegations of secretary hillary clinton. that led to this exchange between the panel's chair mn and my cnn colleagues, dana bash, at a news conference you might have seen live here about an hour ago. >> the flip side of that could that be because you chose not to draw conclusions, does that
suggest that you don't have the goods on placing any blame on the administration, particularly the woman that wants to be the president of the united states? >> shockingly, that was not what the house asked me to do. the resolution doesn't mention secretary clinton. speaker boehner nor speaker ryan have ever asked me to do about anything about the 2016 presidential politics. speaker boehner asked me to find out what happened to four of our fellow citizens. i believe that is bha i have done. you are welcome to read the report. i hope you will. i know you will. if you at the end of reading that report can conclude it is about one person instead of four people, i will be shocked. >> i ask you the opposite question. do you believe after doing this for two years, spending all of your time and millions of dollars, do you believe that based on this that the american people should look at this and see that the woman who wants to be president has culpability. >> i was with you until the last
clause of your statement. i think the american people ought to look at it. fellow americans died and fellow americans were injured and fellow americans went to heroic lengths to save other americans whachlt conclusions they draw is up to them. >> do you disagree with mr. pompeii or mr. jordan? >> i wrote the report that is centered in the facts. i have a background of who, what, when, and where. i don't have a background in the why. y'all may have a background in the why. i don't. my job is to report facts. that's what i've done. you can draw whatever conclusions you want to draw. >> dana bash joining me live with what is the 8th congressional review of the benghazi attack. we are looking at the state department's accountability review view and interagency assessment. i was not aware until i read this in "the new york times" that this effort to investigate has drawn on longer than the
investigations into the assassination of jfk, the 9/11 attacks, hurricane katrina and pearl harbor. so what's the headline? >> it's hard to -- the issue with this report and what i was trying to get at in part with chairman doughty there is that this is an 800-page narrative. there is no one headline, because chairman doughty doesn't want there to be one. he wants people to sit down and read it and get a sense from all the interviews that they did, which, in fairness to them, no one else has a lot of this. chris stevens, the ambassador who was killed, his e-mails and other transcripts and documents, he wants them to read it and conclude for themselves and more importantly for officials at the white house, state department, defense department, where it is
very clear that a number of things went terribly, terribly wrong. they take it and use some of the recommendations in this report. however, the reason why i had to pause to answer your legitimate question, which is what's the headline, is the headline is as trey doughty wants to say, it is not about hillary clinton. the headline is this committee spent 2 years and $7 million, taxpayer dollars through the prism of whether the woman who wants to be president of the united states has culpability. there are no bomb shells or smoking gun on that issue. in fairness, they did uncover and reveal some other questions and answers to questions like, why was chris stevens even in benghazi, given how incredibly dangerous it was and how poor his security protection was?
why was he even there? some answers were, we found out through e-mails and transcripts, that he thought he could get funding for a permanent conflict, which was his passion, so he went, eve thon though it dangerous. hillary clinton had planned to go to visit libya a month later and they wanted it deliverable. that's one piece of new information. just fact that trey doughty, the republican chairman, was standing on the stage with two republicans who didn't think that he went far enough. they did their own separate report making political conclusions. on the other side, you have democrats who are saying that he has gone too far in spending all this money for what purpose. going at it from the other side that. kind of makes it very, very murky and makes their message and makes their conclusion hard to really pin down into one or two sentences. >> i can pin it down into this
sentence. $7 million to learn that the government is big and bulky. how about that? i'm going to wrap it up with tray's own words. you ready? he said this. congress does a lousy job of conducting a political, nonpartisan investigations and the american people deserve better. there is the headline, dana. there is the headline from all of this. thank you, miss bash. good job there. >> thank you for doing the questioning as you always do. on a program note, benghazi member, adam shift and jim jordan are going to be guests on the wolf show next hour on cn days after britain voted to leave the eu, banks are getting hammered and not the fun kind. richard banks is joining me to show the impact that it has on them and on you in america, because it does cross the pond in a digital heartbeat.
homeowners insurance life insurance automobile insurance i spent 20 years active duty they still refer to me as "gunnery sergeant" when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and i'm a usaa member for life. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life. youthat's why you drink ensure. sidelined. with 9 grams of protein and 26 vitamins and minerals. for the strength and energy to get back to doing... ...what you love. ensure. always be you. can give you ans advantage.gether like trubiotics with immune support advantage. its unique formula supports immune health in two ways. with probiotics that work in your gut. and antioxidants that work throughout your body. trubiotics from one a day.
at the marine mammal center, the environment is everything. we want to do our very best for each and every animal, and we want to operate a sustainable facility. and pg&e has been a partner helping us to achieve that. we've helped the marine mammal center go solar, install electric vehicle charging stations, and become more energy efficient. pg&e has allowed us to be the most sustainable organization we can be. any time you help a customer, it's a really good feeling. it's especially so when it's a customer that's doing such good and important work for the environment. together, we're building a better california.
things may be starting to calm down. the fallout from the brexit vote abating somewhat today. if you need proof, look at the dow jones big board. that's a plus sign. we are in positive territory after coming off of two days of losing nearly 900 points in that index. over in europe, the pressure is on officially to get the divorce proceedings going. the outgoing uk prime minister, david cameron, met with eu leaders for the first time since the brexit vote. germany and italy are warning
britain that you cannot have your cake and eat it too. >> in my view, it is impossible to belong to community only with the good things and not with the bad things. >> cnn's richard quest is at the eu summit in brussels. i want to bring this home for the american audience if i can. the banks are getting hammered, losing about 30% of their vat u. the aaa rating for uk debt just got knocked down a notch and that is uncomfortable. the dow is up 138. is it over for us at least on this side of the ocean? >> reporter: the reason the dow is bouncing back is that there really is no specific direct link if you like, between what's happening over here and what is happening within the u.s. economy, other than those u.s. companies that will be affected by the uncertainty generated over the brexit crisis.
and those companies affected by the higher dollar, those exporting companies that are clearly going to see and feel a significant hit to their bottom line as their sales take a hit because their products are more expensive. that is the only, if you like, technical reason why the u.s. would. i can throw into that melting pot uncertainty, a certain unease. will the companies stop spending, will the banks be hit? good enough reasons for the investors to say, go into treasuries, buy gold, don't do anything, let's wait and see. >> quick question for you, since you are in brussels. there was some tape that i saw earlier where the leader of the u.k. independence party, nigel f faraj, a big proponent of exit.
he stood in front of all these ministers at the eu and he was more mortifyingly expensive. let's have a quick listen and i want to ask you about the interview you have coming up. >> good morning. good morning. funny, isn't it? funny, isn't it? thank you very much for that warm welcome. good morning. good morning. funny, isn't it? funny, isn't it? >> so obviously this was not a very warm welcome. this is before he got really ugly and nasty to all of those
people booing. you are going to talk to him in a couple of minutes and i want to know what your chief question is for the architect of the exit? >> reporter: well, the man is sitting just off to the side of me at the moment. i think the core issue, nigel faraj has been a member of the european parliament for quite a long time and has made no secret for the disdain he has for the institutions at various points. he was spectacularly rude with the foreign european council. he said, you need a deal. we need a deal. grown up people go ahead and do a deal. he dressed it up with a nice bow by sort of telling them they have never had a job in their lives or most of them haven't,
didn't go exactly terribly well. i suspect that's not going to be anything of which he is going to lose any sleep over in the next 24 hours. >> the only thing that could be more entertaining than watching that moment with all the eu ministers is richard quest with your personality interviews that man. i am going to have you live on the program doing that interview just as soon as nigel farage gets miked up and ready to go. we are going to go to break and get you organized. you are going to be on in a moment. we are producing live on the fly, richard quest. we'll see you in three minutes time. richard quest. thanks. do not miss this interview, folks. don't miss it. after a long day, dave stops working, but his aleve doesn't. because aleve can last 4 hours longer than tylenol 8 hour.
what will you do with your aleve hours? yourbut the omega-3s in fish oil differ from megared krill oil. unlike fish oil, megared is easily absorbed by your body. megared. the difference is easy to absorb. perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness,
liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance.
whatever. welcome to our viewers in the united states and around the world as we continue to follow the aftermath of the brexit vote, the historic decision by the united kingdom to leave the eu. my colleague, richard quest, joins us now from brussels with nigel farage, the leader of the uk independence party. richard? >> if david cameron is to some extent the official player on behalf of the united kingdom in the dinners and meetings, nigel farage is the unofficial leader in that sense, because he was the unofficial leader within a large part of the brexit campaign. we have already heard your speech, our part of it in
parliament this morning. you were almost gratuitously rude to the parliamentarians. and you enjoyed it. >> they were abusing me. twice, the president of the parliament had to cease proceedings. what i said to them, can we be grown up about this? can we talk about trade deals? they all laughed and giggled. that's when i said, the trouble of you people is, none of you have ever had a proper job, which wasn't wrong. >> the point is, mr. farage, it hardly endears you to the very people who are going to have to give their consent to an agreement in two years time if you are rude to them. >> they called me all the names under the sun. i teased them that they are basically a bunch of bureaucrats that don't have a proper job. >> you don't like them? >> they don't like me. it is mutual. >> you haven't liked them for how long? >> all 17 i have been here. what they tried to do is build a
political union without consent. i have been in there to fight against it. finally, a member said, we wish to succeed. they didn't like it much. >> our viewers in the united states who are watching now and wondering what on earth is going to happen to britain, how can britain thrive, i didn't say survive, i say thrive outside of the european union when the banks are being decimated in the share price and the threats have been very severe and the pound have fallin. >> and ftsce is up and sterling is marginally lower than february. the pound has been in a bear market since july, 2014, fact. now, american viewers, imagine if nafta was a political union. imagine if a court in mexico could overrule and imagine if you had free movement of people with mexico. how would you feel?
you wouldn't like it. what we are doing in the uk, we are reasserting our democratic rights and in terms of business and trade, we'll go on trading. >> you are starting to sound in some way with the similar policies to donald trump. now, he admires the brexit result. he said it was fantastic. it was brilliant. do you admire donald trump, in the u.s. presidential election? >> donald trump dares to talk about things other people want to brush under the carpet. what mr. trump is doing in america is very different than what i am trying to do in the united kingdom. my problem in politics is far greater than donald trump. we literally have lost our sovereignty, lost our borders. >> he would say the same thing about u.s. borders. >> the problem you have in the u.s. is illegal immigration. our problem is legal immigration to half a billion people. >> you wouldn't be looking to him for too much support. he also says if he becomes
president of the united states, barack obama is going to the back of the trade cue wouldn't happen. you would be at the front of the cue. so you must hope he becomes president. >> i think for the united kingdom, i think trump will be better for us than barack obama has been, no doubt. >> and with hillary clinton? you are not going to take sides at this early stage? >> there is nothing on earth could persuade me ever to vote for hillary clinton. >> you sure you don't want to think about that? >> absolutely not. she represents the political elite. it is almost as if she feels she has a divine right to have that job. >> you keep talking about the political elite. you keep talking about the establishment. sir, you're part of it. you've been here for 17 years. >> but i came into it from business. i used to trade commodities and currencies. i had a proper job once. >> how on earth do you have the profunction torre to criticized
wall street and big business when you were part of those markets? >> the markets, big business and good markets, have small and medium size competitors trading in them too. look, the actions of goldman sachs, in cahoots with this european commission getting greece into the euro and everything else. we need change. >> you have got your change. you have your referendum. you have got to agree that the uk at the moment, the labor party has imploded with jeremy corbett has lost, the opposition party has lost the vote of confidence. the prime minister has re-signed. you have leadership elections in two parties. this is sending a terrible message about what's happening in britain. >> it is a great message. >> how can you say that, sir? >> it is a great message. our political class have let us down like a cheap pair of braces and what we did last week in that referendum was say, get thee gone. political change will be good and healthy and constructive.
>> how much damage are you prepared to see? the chancellor accepts that there will be a recession. he said so on bbc radio. he accepts that there will be economic damage. how much damage are you prepared to accept before you rebuild the house? >> do you know something, freedom, independence, democracy, not being a slave to somebody else is something upon which you can't put a price. what we did last thursday is we voted to take back our country, to take back our laws, our courts, our borders, our pride and self-respect. you know what? actually, i think, in trade terms, we are going to do better than we did before. just last night, the australian and new zealand prime minister said they want to come to the front of the cue for a trade deal with britain. >> let's look at our european partners. angela merkel sounds as if she is angling to do a deal. they won't allow informal negotiations without article 50 being invoked. that's not going to be invoked. this is the article that when
the time limit begins. when would you like to see it invoked? >> i feel now that there is a logic that says there is a degree of uncertainty as to where we are going. it doesn't make sense to wait until the autumn. what the government needs to do is put a negotiating team in place and declare article 50, to invoke it within the next few weeks. >> before the next leader is in place. before the new prime minister. >> yes. i think we do need to send a message we are serious about this. we didn't play around. the referendum result. let's crack on. >> a couple more questions. do you have a view on the next prime minister of the united kingdom of great britain and northern ireland? >> as long as he or she is committed to upholding the will of 17.5 million people last thursday, that referendum, i couldn't care less who it is. what i don't want to see is back sliding. >> are you, on ts question about the money, you have been asked it 1 million times. you said you would never have made that promise about spending
$350 million on that. >> yes. >> but when that promise was being made, mr. farage, you weren't out there saying, hang on, this isn't right, you can't make this guarantee. hang on, this is being disingenuous, hang on this, money needs to be spent elsewhere. you kept quiet? >> i kept saying our contributions was 200 million pounds a week. we could spend on whatever we chose. >> you didn't challenge your fellow brexiteers on their assertion? >> that's my problem. i am too soft, too kind and too easy. >> there are many words i would choose to describe you, sir. none of those would come within that calgary. finally, if you were in the room tonight at dinner, you would probably be on the menu rather than at the table. if you were in the room at dinner, what would you be saying to your fellow european partners
over the chateau brignon? >> i would just say, let's stop threatening. let's stop being silly. you need us far more than we need on. let's crack on and have a tariff-free deal and allow is free to go off and pursue our global ambitions. >> nigel farage, thank you, sir. there are an enormous number of people waiting to talk to you. i thank you as always for being honest and forthright as always. brussels is being attacked front and center. do take your microphone off before you go. >> can we talk to you from cbs news? >> i am sure you would like to but not at the moment. stand back, please, sir. as we continue, you get an idea of the sheer tension that is in this building. from brussels, where frankly all hell could break loose at any moment, back to you. >> thank you, richard. i'll tell you something. you are one person i would describe as soft, kind and easy, richard quest, doing this
fantastic interview for us on the fly. >> nigel farage with the leader of the uk independence party and the guy behind the exit. with the union flag firmly planted behind me, i want to bring in christine romans, our chief business correspondent. so much to go over. >> she whispered to me, this is such a british interview. i expect them to go for tea. what i want to ask you about, the question he asked nigel farage. this pertains to us. when you talk about damage, this pertains to us. he said, how much damage are you prepared to accept? nigel ferage seems to blow it off as if it is going to be far more successful for the uk to be independent. >> he does not acknowledge the potential consequences for financial markets in britain and around the world. he does not. >> and the current damage. >> he does not. he dismissed the pound falling to a 30-year low. he said it has been in a bear market since last summer. he dismissed what many are very concerned about, a sharp move in
its currency and sharp moves in markets. janet yellen said there would be consequences to economies and financial markets if there is a brexit. larry summers, very kernld thcoe are in this cycle of populism feeding bad decision making and bad politics. >> if you ask him, he says, it is not a terrible message. it is a great message. so the question i have. as we all look at the markets, let's pop up the big board if we can so i can keep an eye on what has been happening. >> i am call teeiing it the bre breathing. is this something that you can bounce back from? if you look at the 30-year lows at the bank stocks, if you look at the aaa rating, it was 2007 in this country. we did recover. it may have taken a while. will they also recover.
thus, might we skip over this ugly period. they will suffer through it and we will not. >> we have analysts and sust banks starting to downgrade their growth forecast for the u.s. this is not just a british problem. down grading their growth forecast for the u.s. you have this feeling maybe it is the people who voted for brexit who will be the first to be hurt. if you have a recession in britain, you are going to have job losses right away, potential tax losses. they are going to hit those people first, because they don't have the cushion. that's the irony here. you have brexit voters that voted for higher taxes, lower growth and this period of financial adjustment. if he is right, you are going to have some gloomy economy and new trade architecture. >> those bank stocks will somehow miraculously jump 30%. >> some stocks are down 30%. british taxpayers own those big shares in those companies.
>> little known fact to those that don't read the economist all the way through. the british tax payers, not unlike america, bailed out the banks. we bailed out the auto companies and they came back and we got most of our money back. they are on the hook. they own those bank stocks. the british taxpayer, mom and pop tea party fellows, they just saw a 30% reduction in their asset. >> that's the latest addition of cut off your nose to spite your face. there are going to be a lot of issues. you see this bounce. don't get too excited. don't get too upset if there is a 300-point decline tomorrow. you will see a lot of big swings until there is some clarity. who will be the next prime minister? what will politics look like? is there going to be a new trade architecture between the u.s. and the rest of the world? >> those are the questions. i guess i want to ask, when the -- with the outgoing prime
minister, david cameron says, i will speed things up, he has and is looking to get a new p.m., a vote on the docket by the end of summer. >> that's why stocks are up today. >> every little thing that's uttered, will that have an impact on them and us? >> yes. >> every limit thing? >> we call it headline risk in my business. there will be so much headline risk for your 401(k). mortgage rates have plunged. you are getting advertisement for 3.5 30 fixed year mortgages and money is ploughing into the u.s. treasury. >> the fed knows really darn well what it is going to be doing in the next three, six, nine months. >> the fed is going to have to be on hold. janet yellen said the consequences, this was a big risk for the fed raising interest rates. you have very low interest rates and will likely continue for the foreseeable future. >> we had a scandal with one
stock trader in britain about ten years ago. every single one of us saw the markets plunge. one stockbroker screwing around with millions and millions of dollars. it affected us. that's why i really want to know, have we learned lessons from that or are we that vulnerable to one country's decision. >> i think what 1% of the s&p 500 revenue is tied to the uk. that understates how globally connected everything is and how it takes one asset class off kilt ter to -- you have bonds moving, stocks moving, currency moving, the yen has had huge moves. japanese stocks, trillions of dollars are trying to find a home, trying to find safety. very disruptive. >> 15 seconds left. 161 points up on the dow today. are these people looking to get a discount and buy on the dip? >> they are buying cheap bank stocks and trading short-term. they see two huge days at losses and think, maybe i will sneak in over here. >> should anybody watching do
this or should you be super skilled? >> do not trade international crisis with your 401(k). it is just a fool's earned. >> that is very wise. >> you are going to be on every single day and we will hang on every single word. richard quest has a better accent. >> was that the best interview ever. >> christine romans, the chief correspondent. thank you. if you had that british accent that would be it. brianne in keilar is sitting in for wolf blitzer. she starts after this break.
hi, there. i'm brianna keilar in for wolf blitzer. up first, donald trump and hillary clinton on the campaign trail. also, under fire today. clinton is holding an event at a tech education facility in denver. she is facing renewed criticism over the terrorist attack in benghazi with release of a report for house republicans. we are getting a look at the stage for republican en